Highbridge Capital Management LLC raised its position in Textron Inc. (NYSE:TXT) by 153.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,308 shares of the aerospace company’s stock after buying an additional 15,308 shares during the period. Highbridge Capital Management LLC’s holdings in Textron were worth $253,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of Textron during the fourth quarter worth about $13,548,000. Mason Street Advisors LLC increased its position in shares of Textron by 1.0% in the first quarter. Mason Street Advisors LLC now owns 37,324 shares of the aerospace company’s stock valued at $1,776,000 after buying an additional 361 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of Textron by 1.3% in the first quarter. Pictet Asset Management Ltd. now owns 137,288 shares of the aerospace company’s stock valued at $6,534,000 after buying an additional 1,700 shares in the last quarter. Bank of Montreal Can increased its position in shares of Textron by 0.5% in the first quarter. Bank of Montreal Can now owns 132,775 shares of the aerospace company’s stock valued at $6,317,000 after buying an additional 644 shares in the last quarter. Finally, Flinton Capital Management LLC increased its position in shares of Textron by 2.2% in the first quarter. Flinton Capital Management LLC now owns 12,410 shares of the aerospace company’s stock valued at $590,000 after buying an additional 272 shares in the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.
Shares of Textron Inc. (NYSE:TXT) traded up 0.55% during mid-day trading on Friday, hitting $49.31. 808,450 shares of the company traded hands. Textron Inc. has a 1-year low of $37.19 and a 1-year high of $50.93. The firm’s 50 day moving average price is $47.98 and its 200-day moving average price is $47.66. The stock has a market capitalization of $13.05 billion, a PE ratio of 15.07 and a beta of 1.56.
Textron (NYSE:TXT) last released its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. Textron’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. On average, equities research analysts forecast that Textron Inc. will post $2.52 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, September 14th. Textron’s dividend payout ratio (DPR) is presently 2.45%.
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Several research analysts have commented on the stock. BidaskClub downgraded shares of Textron from a “sell” rating to a “strong sell” rating in a research report on Saturday. Wells Fargo & Company reiterated an “outperform” rating and set a $54.00 price target (up from $52.00) on shares of Textron in a report on Saturday, July 22nd. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, July 18th. Credit Suisse Group reiterated an “outperform” rating and set a $55.00 price target (up from $50.00) on shares of Textron in a report on Thursday, July 20th. Finally, Bank of America Corporation cut shares of Textron from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $53.00 to $45.00 in a research note on Friday, July 21st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Textron presently has a consensus rating of “Hold” and a consensus price target of $53.60.
Textron Company Profile
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
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